Overview and Scope
The glyphosate is used in the agriculture industry to control weeds in a variety of crops, such as grains, pulses, cereals, fruits, tubers, vegetables, and other crops. Glyphosate is a low-toxicity chemical formulation that is effective for weed control. These chemicals are directly sprayed on the leaves, which are further absorbed by plants as nutrients.
Sizing and Forecast
The glyphosate market size has grown strongly in recent years. It will grow from $10.06 billion in 2023 to $10.99 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to introduction of genetically modified (GM) crops, increased agricultural productivity, rise in no-till farming practices, global expansion of agriculture, cost-effectiveness and versatility.
The glyphosate market size is expected to see strong growth in the next few years. It will grow to $15.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emergence of alternative weed control methods, stringent regulations and environmental concerns, increased adoption of precision agriculture, shift towards sustainable agriculture, public awareness and consumer preferences. Major trends in the forecast period include technological advancements in herbicides, shift towards sustainable agriculture, resistance management strategies, increasing adoption of genetically modified (GM) crops, regulatory scrutiny and bans.
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Segmentation & Regional Insights
The glyphosate market covered in this report is segmented –
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Form: Liquid, Dry
3) By Application: Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial Crops, Other Applications
Top 5 Major Players:
- Sinochem Corporation Limited,
- BASF SE,
- Dow AgroSciences LLC,
- Syngenta Group AG,
- Bayer CropScience AG
Asia-Pacific was the largest region in the glyphosate market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the glyphosate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for fertilizers will propel the growth of the glyphosate market. The growing world population will be demanding more food, water, and agricultural products, so to meet this demand, farmers are using modern agricultural methods to grow plants and crops to earn maximum profits. Farmers are using maximum quantities of fertilizers to protect and grow crops faster. For instance, according to the Food and Agriculture Organization, the global demand for fertilizer nutrients was estimated to be 185,063 tons in 2016, and it is expected to reach 200,919 tons by the end of 2022. Thus, an increase in demand for fertilizers will drive the glyphosate market.
Key Industry Players
Major companies operating in the glyphosate market report are Sinochem Corporation Limited, BASF SE, Dow AgroSciences LLC, Syngenta Group AG, Bayer CropScience AG, Corteva Agriscience LLC, United Phosphorous Limited, UPL Limited, Food Machinery and Chemical Corporation, Adama Agricultural Solutions Ltd., Luxi Chemical Group Co. Ltd., Nufarm Limited, Zhejiang XinAn Chemical Industrial Group Co. Ltd., Wynca Group Limited, King Quenson Industry Co. Ltd., Hubei Sanjiang Fine Chemical Co. Ltd., Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Anhui Huaxing Chemical Industry Co. Ltd., Fuhua Group Co. Ltd., American Vanguard Corporation, Jiangsu Good Harvest-Weien Agrochemical Co. Ltd., Excel Crop Care Limited, Willowood Industries Limited, Jiangsu Xinyu Agrochemical Co. Ltd., Anhui Zhongnong Chemical Co. Ltd., Monsanto India Limited, Sinoharvest Corporation, Shandong Lvye Chemical Co. Ltd., Shandong Lianfeng Pesticide Co. Ltd., Henan Yuxing Agrochemical Co. Ltd., Jiangsu Huaxing Chemical Co. Ltd., Shandong Shuangfeng Chemical Co. Ltd.
The glyphosate market report table of contents includes:
1. Executive Summary
2. Glyphosate Market Characteristics
3. Glyphosate Market Trends And Strategies
4. Glyphosate Market – Macro Economic Scenario
5. Global Glyphosate Market Size and Growth
….
32. Global Glyphosate Market Competitive Benchmarking
33. Global Glyphosate Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Glyphosate Market
35. Glyphosate Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Glyphosate Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Glyphosate Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Glyphosate Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 74: Sinochem Corporation Limited Financial Performance
Table 75: BASF SE Financial Performance
Table 76: Dow AgroSciences LLC Financial Performance
Table 77: Syngenta Group AG Financial Performance
Table 78: Bayer CropScience AG Financial Performance
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